trending Market Intelligence /marketintelligence/en/news-insights/trending/RWQeMVazMn-gBt5y4hSMWw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Milestone Apartments REIT selling to Starwood Capital

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Milestone Apartments REIT selling to Starwood Capital

Starwood Capital Group has agreed to acquire Milestone Apartments Real Estate Investment Trust for $16.15 per trust unit in cash, representing a transaction value of about $2.85 billion.

The price translates to roughly $120,000 per Milestone apartment unit, compared to book value of about $109,500. Starwood owns more than 67,000 apartment units in the Sunbelt region of the U.S., where Milestone's portfolio is concentrated, according to the merger announcement.

The purchase price will be paid through a redemption of Milestone's units, after which the REIT will be terminated. Neither CEO Robert Landin nor Jeffrey Goldberg will have continuing roles with the company or Starwood following the close of the deal.

The deal was approved unanimously by Milestone's board, which recommends shareholders vote in favor of the transaction. Consummation of the deal requires the approval of two-thirds of unit holders at a special meeting, among other customary conditions. Financing is not a condition.

Milestone has the option to accept a superior offer under certain circumstances, and Starwood has a four-day "right to match" period. The deal also contemplates that Milestone will pay Starwood a $53 million termination fee and Starwood will pay Milestone a $100 million reverse termination fee if the transaction is terminated under certain circumstances.

BMO Capital Markets and National Bank Financial provided fairness options to the special committee of Milestone's board.